King's Lynn's Human Capital Department asks whether businesses can cope with an increase in the minimum wage
Recently the Chancellor of the Exchequer, Sajid Javid, announced the Government’s intention to give four million people a pay rise.
Sounds like a vote winner. The intention is to increase the Minimum Wage, or National Living Wage as it is known as for over 25-year olds, to £10.50 per hour within the next five years and ‘end low pay’.
The regulations are quite complicated with four bands of minimum wage –16-17-year-olds £4.35; 18-20-year-olds £6.15; 21-24-year-olds £7.70 and 25-year-olds and over £8.21.
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